Most Economists Say Government Should Avoid Spending Cuts in 2013

The vast majority of economists responding to a new survey believe the federal government should maintain or increase spending levels next year — a shared opinion that stands in contrast to steep budget cuts set to take place in 2013.

Nearly half of the economists said the government should add more stimulus to the economy and three-quarters said the planned sequestration shouldn’t go into effect, according to the National Association of Business Economics policy survey released Monday.

“A good consensus of economists for 2013 don’t think policies should be tighten,” said Jay Bryson, global economist for Wells Fargo Securities and one of the survey’s authors. “They are looking for tightening later, rather than sooner.”

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